Euro/US Dollar exceeded 1.2813/55. Likehood discussed in the 11/17/08 post is alive, in which this pair from 10/28/08 low 1.2327 could develop a flat correction pattern.
If true, comparing with the downside moving from 9/22/08 high 1.4864 to 10/28/08 low 1.2327, this correction lasts particular longer. One could associate it with bottorm construction of a mid term. In other words, the following wave 5 could be a truncated wave.